Grupo Famsa Posts Solid Sales Growth During August 2015

MONTERREY, Mexico, Sept. 2, 2015 /PRNewswire/ -- Grupo Famsa continued to post robust sales growth during the third quarter of the year. The increase in total sales volume registered in July and August, particularly in Mexico, exceeded 2015 Guidance (+6%). This expansion was driven by greater demand for durable goods, mainly Furniture and Home Appliances. Consequently, Grupo Famsa reiterates that its consolidated EBITDA should reach the high end of 2015 Guidance, Ps$1,800 million, equivalent to a solid year-over-year increment of 24.8%.

With regard to Banco Famsa, the strategic initiatives implemented in 2014 and 2015 to optimize credit granting processes and underpin the bank's collection model have resulted in a customer base with an enhanced rate of prompt payment reflected in a declining credit risk for the institution. In addition, the Non-performing Loans Ratio (IMOR*) for the bank's credit portfolio was 11.0% as of July 31, 2015, an outstanding 650 basis points below the IMOR posted at the close of July of the previous year.

Finally, during the months of January through August 2015, six new stores were inaugurated, five in Mexico and one in the United States, as well as six banking branches. Before the end of the year, Grupo Famsa expects to expand its presence in states such as Coahuila, Guanajuato, Michoacan and Queretaro, with the opening of nine stores and nine banking branches, with Grupo Famsa's traditional format. In parallel, Banco Famsa will adapt at least 20 more branches acquired in 2013 to its own banking structure and design.

Contact:
Investor Relations
Paloma E. Arellano Bujanda
[email protected] 
Tel +52(81)8389-3400 ext. 1419

SOURCE Grupo Famsa, S.A.B. de C.V.